Diamond Infrastructure Solutions and Houston- based Third Pillar Solar have entered into an agreement giving Third Pillar exclusive access to Texas reservoirs to investigate its design, development, and deployment of utility-scale floating solar projects across the Diamond-owned reservoirs.
This marks the first collaboration of its kind in North America. By utilizing previously unused surface area, the initiative will generate clean energy and help reduce water lost to evaporation.
The comprehensive floating solar initiative represents a potential investment exceeding $700 million and is expected to generate up to 500 MW of clean energy — all while minimizing land development and helping conserve approximately 15% of freshwater currently lost to evaporation in a fast-growing, water-stressed region, a news release said.
The projects, planned to be constructed and in-service by the end of the decade, will support hundreds of local jobs during their multi-year construction and operation. Additionally, Diamond will collaborate with Third Pillar on local supply chain opportunities, leveraging their shared expertise to drive mutually beneficial innovation and community impact.
The projects will be the largest floating solar installations of their kind in the Americas and represent the unique, multi-pronged value proposition that floating solar provides for energy production, land use and water conservation, the news release said.
Diamond Infrastructure Solutions is an infrastructure-focused company located in the U.S. Gulf Coast.
Third Pillar is a specialized developer, owner, and operator of floating photovoltaic (FPV) solar projects, founded in 2022 and headquartered in Houston, Texas.
The company focuses exclusively on floating solar installations on underutilized waterbodies such as wastewater lagoons, reclaimed sand and gravel pits, and industrial reservoirs to address land use concerns associated with ground-mounted solar projects.
Backed by majority owner Glentra Capital, a leading private-equity infrastructure fund, Third Pillar leverages decades of collective team experience from major renewable energy companies including EDP Renewables, GE, Siemens, and Vestas, with responsibility for over 5 GW of previous project deployments. The company maintains an active development pipeline of over 60 projects across 11 states.
Third Pillar's expertise spans the complete project lifecycle from development through long-term operations and maintenance, with extensive experience in federal compliance, and innovative financing solutions for floating solar installations, the news release said.
